Arizona weekly citizen., 1887-09-24
Points About the Boom.

4 boom Is 8 highly useful aod profits- ble thing for people sufficiently wide awake to ride It properly, but persons vhc attempt the mount II with iheIr theIr eyes shut are likely to come to grief. Hundreds of unsuspectiDg land owners have been practically swIndled by speculatcrs who used their Inside knowledge of the direction to be taken by new railroads 10 tieup all the prop eTty that was likely to Increase ID value. Ascnt two million acres have been bond ed lately ia the northern part of the state. Iu ElJst cases little or nothing has been paid in the way Of advance. The owners simply abandoned all their interest in the boom for no equivalent gt All. If there Is 8 riEe m price the sDeculator gets the benefit of fl; If not tae land Is left h the hands of the orig InBl holders. Not long ago q company uEIrb is exploiting fertile valley Tn
 tha early fruit belt bonded 5OO acres | rom a Portuguese Rt S75 sn acre. l. secured the and by false representa- liops about the Improbability of rsil- rosI going through the valley. By mis- tCke, the owner put tbirty-tive acres
 more than he intended into the com p.ny's hands. He had 10 buy 1t back st | S359 Gn acre.
 This cert of Ehing may be ell right, ac- | carling to real estate standard Of morals, bat # emphgsizes tbe bad policy of part | ing with the control of property before | i, Is finally sold. On general principles
 4 nay be said that any man who sl- loEs his land to be bonded withou. re- ] ceiving 8 heavy consideration IS fool. | Be IS making speculators a present of | all tbe chances of rising market, He
 ;s deurIvinz himself Of the right to sell 1 his proper.y until the speculators have | bawked 1t through the state for thelr | own benefit. When farmer has good niece os land, let him hold 1t until he receives genuine offer to buy ai tair
 price.
 are often bled Gs much. In such cities
 as Oakland and San Francisco investors | in real estate can hardly go astrsy, al | though there is no place whatever ID | vybioh buying on margin IS safe. Bui
 in tbe metropolis and its suburbs those
 ubo can bay lots and hold them arc
 sn-e to reglize sooner or later. Prices bave not vet reached the point they st- tained several years ago, nor have they
 raaohed inc point that would be gustl, l fed by the needs of population and br,siness But when the people are | ss-ed to invest in lots near the hundred new towns that are cropping up hH | oyer the state, they should do Q hEtl' .binkipg. City lots hsyefbeen sold hvt Yniles from towns of 15,000 and 2O,OOO ID i habitgnts. Before anyone buys prop er,v of that kind, let him reflect that city extending five miles in every direc 1 lion would cover nearly eighty square
 miles; that the city and county of Sar kTa,cisen, sand dunes and all, include:
 46 square miles; that Paris with 1 oSei two million inhabitants, covers 2o1s l that Manhattan Island, with populs l .ion of A million and quarter. has z.
 souara miles, and that in the metropll
 ian parliamentary bnroughs Of London l three million and a half of people hv' on 73 souare miles of territory. lfeverl "ito" 1" Haua" and "Los" 10 California |
 1oibg 10 be a greater city than Loncon
 if nav be safe to purchase town lot iva mics out. Otherwise 1t IS best t'
 rar,amber the safe rule that outside land is worth the amount upon which
 vill yield A fair income when used TO 3sgriculturRl purposes. d,
 We have no wish to discourage tn
 booro. but we wish to see II kept in sai
 and honest channels. Let owners Q land keep it until they can nase den
 ,,,te sale at satisfactory price. and le
 nnychssers buy nothing they are unsbl to pay for and unwilling to hold' sn'
 the boom will not be followed by crol
 Of b3nkruptcies.-S. F. fos''